Ssa Cost Of Living Increase 2024 India. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024. Based on that increase, the maximum amount of earnings subject to the social security tax (taxable maximum) will increase to $168,600 from $160,200, ssa said.

A single person estimated monthly costs are 346.9$. Social security beneficiaries will see a lower increase to their monthly benefits in 2024 following a record increase this year.